Latest news
Iran to strike its first post-sanction oil supply deal with Greece
The National Iranian Oil Company of Iran inked a deal to supply oil to Greece’s main oil refiner, Hellenic Petroleum, following removal of sanctions.
read more... 25/01/2016
China’s oil consumption hiked 2.5% in 2015 despite economic slowdown
China’s oil consumption bounced 2.5% in 2015 on strong gasoline and kerosene demand, despite a slowing economy and declining demand for other commodities such as coal and steel.
read more... 20/01/2016
Removal of sanctions against Iran could hit oil
U.S. and Europe have finally lifted sanctions on against Teheran on Saturday, move that could shake up oil markets.
read more... 19/01/2016
BP to axe 4,000 jobs in exploration and drilling business amid dramatic slump in oil prices
UK oil giant BP is planning to slash 4,000 jobs internationally due to declining profits as a result of oil price collapse.
read more... 14/01/2016
Russia’s Gazprom Neft stops purchase in Vietnam’s Dung Quat refinery
Russia's Gazprom Neft, the oil division of major global gas producer Gazprom, has stopped negotiations to purchase a 49 percent stake in the operator of Vietnam's sole oil refinery, as indicated in a business report of the state-owned oil firm PetroVietnam seen by Reuters on Monday.
read more... 11/01/2016